[ad_1]
XRP / USD – Buyers finally cross the symmetrical triangle
Key Support Levels: $ 0.26, $ 0.251, $ 0.245.
Key Resistance Levels: $ 0.261, $ 0.271, $ 0.279.
XRP went through a roller coaster of price action yesterday when it hit a high of $ 0.271 (bearish .618 Fib) and a low of $ 0.228 (.618 Fib) during the 24-hour period.
The cryptocurrency traded inside a symmetrical triangle and bounced off the lower bound earlier in the week. Despite yesterday’s whip saw movement, the daily candle still closed below the upper limit of the triangle.
Today, XRP pushed higher to break up this triangle. It reached the resistance at $ 0.261, provided by a bearish retracement level of 0.5 Fib.
XRP-USD Short Term Price Prediction
Going forward, if buyers manage to break out of the current $ 0.261 level, the highest resistance is found at $ 0.271 (.618 Fib bearish retracement). Next, resistance is found at $ 0.279 (1.414 Fib Extension), $ 0.286 (bearish .786 Fib), $ 0.295 (bearish .886 Fib) and $ 0.3.
On the other hand, the first support level is at $ 0.26. Below that, support is expected at $ 0.251, $ 0.245 (100-day EMA) and $ 0.237 (200-day EMA).
The Stochastic RSI produced a bullish crossover signal, which aided the recent upward push.
XRP / BTC – XRP briefly penetrates below 2000 SAT.
Key Support Levels: 2000 SAT, 1960 SAT, 1915 SAT.
Key Resistance Levels: 2050 SAT, 2127 SAT, 2200 SAT.
XRP has been battling Bitcoin throughout October. Yesterday, the coin fell from the 2050 SAT and broke below 2000 SAT. It continued to rise until the 1915 SAT, where it found support in a decline of 1,618 Fib Extension.
The coin managed to close the daily candle at the 1960 SAT level (downward extension of 1,272 Fib) and bounced above the 2000 SAT today, trading at the 2015 SAT.
XRP-BTC short term price prediction
Looking ahead, if buyers continue to rise, the first resistance level is 2050 SAT. Above this, resistance is found at 2127 SAT (0.236 bearish Fib), 2200 SAT and 2260 SAT (0.372 bearish Fib and 100-day EMA).
On the other hand, if the sellers fall below the 2000 SAT, support is found at the 1960 SAT, 1915 SAT, and 1900 SAT.
The Stochastic RSI is in extremely oversold territory as we await a bullish crossover signal to send the market higher.
Binance Futures 50 USDT FREE Voucher: Use this link to register and get 10% commission discount and 50 USDT when trading with 500 USDT (limited offer).
Disclaimer: The information found on CryptoPotato is that of the writers mentioned. It does not represent CryptoPotato’s views on whether to buy, sell or hold investments. It is recommended that you conduct your own research before making any investment decisions. Use the information provided at your own risk. See Disclaimer for more information.
TradingView Cryptocurrency Charts.
